Petro Matad Says Hello to New COO

Petro Matad announced the appointment of Mark Zebrowitz to its senior management team as Chief Operating Officer ("COO"). Mr. Zebrowitz is appointed as COO having previously served as the Company's Drilling Manager. Petro Matad's former COO, Rodney Graham, is leaving Petro Matad to resume his career in the mineral sector. Mr. Graham will still be based in Mongolia and is to continue to provide consultancy services to Petro Matad, managing its oil shale prospects.

Mr. Zebrowitz is an experienced oil industry professional with significant management and technical experience. Mr. Zebrowitz joined Petro Matad in March 2011 and, with over 25 years' diverse international exploration and development experience, has a proven track record. Mr. Zebrowitz will assume his new role immediately.

CEO Douglas McGay said, "Mr. Zebrowitz has proven himself a skilled oil industry professional and has integrated well into the Company's team and Mongolia since his appointment as Drilling Manager a year ago. We are delighted that he has accepted the position of COO and he will provide stability to the ongoing management of the Company.

"Mr. Graham has been an integral part of the Company during its formation and growth stages. His knowledge of local Mongolian operating conditions and geological expertise enabled us to recruit, train and develop a team of Mongolian and international professionals. Mr. Graham was instrumental in helping to build our in-country operations team which was put together effectively from scratch and we wish him well in his new venture and thank him for his service to Petro Matad."